Northmarq Brokers Sale of New Orleans Whole Foods Market for $31.4 Million


Northmarq, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a Whole Foods Market located at 5600 Magazine Street in New Orleans, Louisiana. The 30,300-square-foot retail property sold for approximately $31.4 million. Jason Maier of Northmarq represented the 1031 exchange buyer, a New York-based private investor. The seller was a local developer.  

“This was a unique, historical property for Whole Foods and for my client, especially because the property is one of only two Whole Foods in the city of New Orleans,” said Maier, Senior Director in Northmarq’s New York City office. “We are excited to see this strong tenant thrive in an affluent location.” 

The historic structure was originally constructed in 1894 as a bus barn and was renovated in 2002 for Whole Foods. The supermarket is situated on 1.65 acres in New Orleans’ Garden District. Neighboring tenants include Walgreens and various local food and service retailers. The property boasts frontage on three main roads – Joseph, Magazine and Constance Street – and is within walking distance of Uptown residents. Whole Foods Market operates on a long-term absolute triple net lease. 

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About Northmarq:

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: